The bulk of the electric 3W firm Astro Motors is acquired by Remsons Industries.

The majority stake in Astro Motors Private Ltd, an electric three-wheeler manufacturing company, will be acquired for ₹14.22 crore in an equity and cash deal by Remsons Industries Ltd, an automotive OEM components manufacturer that supplies two, three, and four-wheeler vehicles, commercial vehicles, and off-highway vehicles in India and to automotive OEMs worldwide.The company Astro Motors is involved in the development and production of electric vehicles for micromobility, loaders, passengers, and cargo.With a facility in Chakan, Pune, Astro supplies gear technology with a range of 131 kilometers and payload capacity of 747 kg.The business, which intends to introduce its product this year, has hired dealers and is growing its network throughout India. "This purchase is a crucial step in our quest to expand in a sustainable way," stated Rahul Kejriwal, Executive Director of Remsons Industries.

"We see a lot of room for growth in this segment as we continue to expand our portfolio. We also want to establish our presence in the rapidly growing electric three-wheeler segment while opening up new business opportunities," he continued.The majority (51.01%) of the electric three-wheeler firm Astro Motors has been purchased by Remsons Industries. The ₹14.22 crore transaction is made up of both cash and shares. Electric three-wheelers are developed and produced by Astro Motors for a range of uses, such as weight carrying, passenger transportation, and cargo.